> ## Documentation Index
> Fetch the complete documentation index at: https://kamino.com/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# Borrow

> Kamino's peer-to-pool lending market on Solana

Kamino Borrow is a [peer-to-pool](/products/borrow/concepts#the-peer-to-pool-model) lending market on Solana. Lenders deposit assets into shared liquidity pools to earn yield; borrowers draw [overcollateralized](/products/borrow/concepts#overcollateralized-lending) loans against their collateral. The protocol handles rate discovery, position health tracking, and liquidations automatically — no counterparty matching required. Kamino Borrow also powers [Multiply](/products/multiply), which uses the lending market's underlying mechanics to construct leveraged yield positions in a single transaction.

<Note>
  **Overcollateralized** means every loan is backed by more collateral value than the loan itself is worth. There is no credit history, no identity check, and no legal recourse — the collateral is the only guarantee. This is what makes anonymous, permissionless lending possible. [Learn more](/products/borrow/concepts#overcollateralized-lending)
</Note>

<Note>
  **Peer-to-pool** means depositors contribute to a shared pool and borrowers draw from it — no specific lender is matched to a specific borrower. The protocol intermediates automatically, enabling instant borrowing without waiting for a counterparty. [Learn more](/products/borrow/concepts#the-peer-to-pool-model)
</Note>

<CardGroup cols={2}>
  <Card title="Supplying" icon="arrow-down" href="/products/borrow/supplying">
    How deposits enter liquidity pools, how kTokens work, and how supply yield is earned.
  </Card>

  <Card title="Borrowing" icon="hand-holding-dollar" href="/products/borrow/borrowing">
    Collateral requirements, borrow limits, interest accrual, and how debt positions are managed.
  </Card>

  <Card title="Fixed Rates" icon="crosshairs" href="/products/borrow/fixed-rates">
    Fixed-rate borrowing — rate certainty, term structure, conditional liquidity, and the on-chain yield curve.
  </Card>

  <Card title="Borrow Orders" icon="clock" href="/products/borrow/borrow-orders">
    Standing borrow orders that fill automatically as matching liquidity becomes available.
  </Card>

  <Card title="Markets" icon="building-columns" href="/products/borrow/markets">
    The structure of Kamino's lending markets, reserve configurations, and eMode.
  </Card>

  <Card title="Liquidations" icon="triangle-exclamation" href="/products/borrow/liquidations">
    How position health is measured, when liquidations trigger, and how the penalty system works.
  </Card>

  <Card title="Concepts" icon="book-open" href="/products/borrow/concepts">
    The foundational ideas behind Kamino Borrow — reserves, markets, LTV, rate models, and more.
  </Card>
</CardGroup>